Occidental Asset Management LLC Sells 464 Shares of Chevron Co. (NYSE:CVX)

Occidental Asset Management LLC trimmed its holdings in shares of Chevron Co. (NYSE:CVX) by 16.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,328 shares of the oil and gas company’s stock after selling 464 shares during the period. Occidental Asset Management LLC’s holdings in Chevron were worth $367,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Bare Financial Services Inc bought a new stake in shares of Chevron in the fourth quarter worth $27,000. Frank Rimerman Advisors LLC purchased a new stake in shares of Chevron during the 4th quarter valued at about $30,000. Valued Wealth Advisors LLC bought a new position in shares of Chevron in the 4th quarter worth approximately $33,000. Cooksen Wealth LLC purchased a new position in shares of Chevron in the fourth quarter worth approximately $40,000. Finally, Clear Investment Research LLC grew its position in Chevron by 264.9% during the fourth quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock valued at $42,000 after buying an additional 204 shares during the period. Institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

CVX stock traded up $0.10 during mid-day trading on Friday, hitting $156.42. The company had a trading volume of 11,283,390 shares, compared to its average volume of 7,477,035. The company has a 50-day moving average price of $159.22 and a 200 day moving average price of $154.62. Chevron Co. has a 12-month low of $139.62 and a 12-month high of $171.70. The company has a market capitalization of $288.28 billion, a price-to-earnings ratio of 14.39, a P/E/G ratio of 2.38 and a beta of 1.12. The company has a quick ratio of 0.93, a current ratio of 1.23 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last issued its earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.84 by $0.09. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The firm had revenue of $48.72 billion for the quarter, compared to analysts’ expectations of $48.42 billion. During the same period in the previous year, the firm posted $3.55 earnings per share. The business’s revenue was down 4.1% compared to the same quarter last year. On average, research analysts anticipate that Chevron Co. will post 13.15 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 17th were given a dividend of $1.63 per share. The ex-dividend date was Thursday, May 16th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.17%. Chevron’s dividend payout ratio is currently 59.98%.

Insider Activity at Chevron

In other news, Director Enrique Hernandez, Jr. sold 2,549 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $165.24, for a total value of $421,196.76. Following the completion of the sale, the director now directly owns 27,725 shares of the company’s stock, valued at approximately $4,581,279. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Chevron news, Director Enrique Hernandez, Jr. sold 5,098 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $163.50, for a total value of $833,523.00. Following the sale, the director now owns 2,549 shares in the company, valued at $416,761.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Enrique Hernandez, Jr. sold 2,549 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $165.24, for a total transaction of $421,196.76. Following the completion of the sale, the director now directly owns 27,725 shares of the company’s stock, valued at $4,581,279. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,546 shares of company stock valued at $3,176,223. 0.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

CVX has been the topic of several analyst reports. HSBC lifted their price target on shares of Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. UBS Group upped their price target on Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a research report on Tuesday, April 9th. Wells Fargo & Company raised their price objective on Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 30th. Raymond James increased their target price on shares of Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a report on Monday, April 15th. Finally, Mizuho raised their target price on shares of Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a research note on Monday, May 13th. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $186.95.

Chevron Profile

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.